Investors are in despair as Bangladesh's stocks nosedive. BBN file photo
Dhaka, Bangladesh (BBN) - Bangladesh’s stocks extended losing streak for the second running session on Tuesday as cautious investors continued with their profit booking mood.
Brokers said the market fell further as risk-averse investors continued to book profit on sector-wise stocks.
Following the previous day’s marginal correction, the Dhaka Stock Exchange (DSE) the Chittagong Stock Exchange (CSE) opened higher amid rising trading activities.
Within first 15 minutes of trading, the key index of the country’s prime bourse advanced more than 15 points while the CSE All Shares Price Index of port city bourse rose 32 points at 10:45am.
After 30 minutes of trading, the DSEX rose more than 23 points while CSE All Shares Price Index advanced 39 points at 11:00am. After the time both the bourses started to decline.
After 90 minutes of trading, DSEX advanced 1.73 points while the CSE All Shares Price Index rose 19 points at 12noon.
But, the downturn continued till end of the session, finally DSEX ended more than 29 points.
DHAKA STOCK EXCHANGE:
DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), which replaced the DGEN in nearly five years back, went down by 29.88 points or 0.47 per cent to settle at 6,272.
The two other indices -- the DS30 index and the DSE Shariah Index (DSES) – also followed the suit to close at 2,255 and 1,381 points, after shedding 12.42 points and 5.67 points respectively.
The stockbroker noted that shaky investors booked profit on telecom, fuel & power and bank sector stocks following recent Turnover, an important indicator of the market, also fell more than 12 per cent to Tk 8.13 billion, from previous session’s Tk 9.29 billion.
The losers took a modest lead over the gainers as out of 332 issues traded, 162 closed lower, 133 closed higher and 37 remained unchanged on the DSE trading floor.
United Power Generation & Distribution Company topped the turnover chart with 1.61 million shares of nearly BDT 295 million changing hands, followed by Standard Bank, AB Bank, Golden Harvest Agro Industries and CMC Kamal.
Tosrifa Industries was the day’s best performer, posting a gain of 8.57 percent while RD Food was the day’s worst loser, plunging by 7.57 percent.
CHITTAGONG STOCK EXCHANGE:
The port city bourse Chittagong Stock Exchange (CSE) also closed in the red with CSE All Shares Price Index (CAPSI) of port city bourse, losing 92 points to close at 19,415.
The Selective Categories Index – CSCX – also fell more than 58 points to finish at 11,745.
Losers beat gainers as 140 issues closed lower, 85 closed higher and 26 remained unchanged on the CSE.
The port city bourse traded 15.16 million shares and mutual fund units worth more than BDT 454 million in turnover.
BBN/SS/AD